The contribution of Sonzele Rural Bank to household poverty reduction in the Wa Municipality.
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Date
2016-08
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KNUST
Abstract
The study assessed the contribution of Sonzele Rural Bank to household poverty reduction in the Wa Municipality. Specifically, the study sought to identify the products and services of Sonzele Rural Bank, examine the non-financial support Sonzele Rural Bank provide to customers, ascertain the effects of Sonzele Rural Bank‟s support towards household poverty reduction and identify the challenges customers face in accessing services from Sonzele Rural Bank in the Wa Municipality. Based on the survey, the study employed systematic random sampling and purposive sampling techniques in selecting 197 respondents for the study. Descriptive statistics were employed for the data analysis with the help of statistical package for social sciences (SPSS).The study revealed that customers‟ incomes have generally improved as a result of the expansion of their businesses through the support of the bank. Consequently, majority of households have seen improved living conditions in the area of education of wards, provision of healthcare and nutrition for the households. The study also revealed most customers‟ households are able to save thereby reducing risk and vulnerability. In order to give rural banks a competitive edge, the Association of Community and Rural Banks (ARP) should collaborate and create a network between all the rural banks in Ghana. The network should be able to make it possible for customers of rural banks to at least withdraw from a different rural bank with a transaction charge slightly higher than that of the mother bank. This will reduce service accessibility limitation bedeviling customers.
Description
A Thesis Submitted To The Department Of Accounting And Finance In Partial Fulfillment Of The Requirement For The Degree Of Master Of Business Administration (Finance -Option).